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Your Best Approach to Determining Value

If you're buying, selling, or valuing a business, how can you determine its true value? By basing it on present market conditions and sales of similar businesses. The market approach is the premier way to determine the value of a business or partnership. With convincing evidence of value for both buyers and sellers, it can end stalemates and get deals closed. Acclaimed for its empirical basis and objectivity, this approach is the model most favored by the IRS and the United States Tax Court-as long as it's properly implemented.

Shannon Pratt's The Market Approach to Valuing Businesses , Second Edition provides a wealth of proven guidelines and resources for effective market approach implementation. You'll find information on valuing and its applications, case studies on small and midsize businesses, and a detailed analysis of the latest market approach developments, as well as:

A critique of US acquisitions over the last twenty-five years An analysis of the effect of size on value Common errors in applying the market approach Court reactions to the market approach and information to help you avoid being blindsided by a litigation opponent

Must reading for anyone who owns or holds a partial interest in a small or large business or a professional practice, as well as for CPAs consulting on valuations, appraisers, corporate development officers, intermediaries, and venture capitalists, The Market Approach to Valuing Businesses will show you how to successfully reach a fair agreement-one that will satisfy both buyers and sellers and stand up to scrutiny by courts and the IRS.

Tabla de contenidos provista por Syndetics

• Preface(p. vii)
• Section 1 Questions(p. 1)
• 1 Defining Market Multiples and Market Approach Methods(p. 3)
• 2 The Guideline Public Company Method(p. 7)
• 3 The Guideline Merged and Acquired Company Method(p. 9)
• 4 Other Market Methods(p. 12)
• 5 Finding Public Company Market Transaction Data(p. 14)
• 6 Finding Merger and Acquisition Market Data(p. 16)
• 7 Adjusting Financial Statements(p. 20)
• 8 Comparative Financial Analysis(p. 22)
• 9 Compiling Useful Market Value Tables(p. 24)
• 10 Selecting, Weighting, and Adjusting Market Value Multiples(p. 26)
• 11 Control Premiums and Minority Discounts(p. 29)
• 12 Discounts for Lack of Marketability(p. 31)
• 13 and 14 Sample Case Questions(p. 33)
• 15 Reconciling Market Approach Values with Income and Asset Approach Values(p. 75)
• 16 Does Size Matter? Evidence from Empirical Data(p. 77)
• 17 Common Errors in Implementing the Market Approach(p. 79)
• 18 The Dismal Track Record of U.S. Market Acquisitions(p. 83)
• 19 The Market Approach in the Courts(p. 85)
• Section 2 Answers(p. 87)
• 1 Defining Market Multiples and Market Approach Methods(p. 89)
• 2 The Guideline Public Company Method(p. 91)
• 3 The Guideline Merged and Acquired Company Method(p. 92)
• 4 Other Market Methods(p. 94)
• 5 Finding Public Company Market Transaction Data(p. 96)
• 6 Finding Merger and Acquisition Market Data(p. 97)
• 7 Adjusting Financial Statements(p. 99)
• 8 Comparative Financial Analysis(p. 101)
• 9 Compiling Useful Market Value Tables(p. 102)
• 10 Selecting, Weighting, and Adjusting Market Value Multiples(p. 103)
• 11 Control Premiums and Minority Discounts(p. 105)
• 12 Discounts for Lack of Marketability(p. 106)
• 13 and 14 Sample Case Answers(p. 108)
• 15 Reconciling Market Approach Values with Income and Asset Approach Values(p. 123)
• 16 Does Size Matter? Evidence from Empirical Data(p. 125)
• 17 Common Errors in Implementing the Market Approach(p. 126)
• 18 The Dismal Track Record of U.S. Market Acquisitions(p. 128)
• 19 The Market Approach in the Courts(p. 129)

Notas de autor provistas por Syndetics

Shannon P. Pratt's reputation in the field of business valuation is legendary and unparalleled. He is the owner and CEO of Shannon Pratt Valuations, LLC
Alina V. Niculita, CFA, is President and COO of Shannon Pratt Valuations, LLC